loader-img
overlay-circle

Search DIB

overlay-circle
Branches & ATMs Contact Us
chat-avatar
Fatima from DIB
Just now

Looks like you may be taking time to decide. May I help you with something?

Reply > No Thanks

Istisna

  • Flexible
    Operations
  • Multiple
    Finance Options
  • Flexible
    Repayment Options
Request Callback Find a branch

Istisna Financing

spotlight_istisna

Plan the future with Sharia-compliant finance solutions that support the construction of buildings, aircrafts, machine equipment and more.

what-is-istisna-390x220

What is Istisna?

Istisna is a Sharia mode of financing used to finance the construction of buildings, residential towers, villas and related products, as well as the manufacturing of aircrafts, ships, machines and equipment.

How it works:
As a customer, if you own a plot of land and want to construct property on it and need financing for this purpose, Dubai Islamic Bank will sign an Istisna agreement with you in relation to the construction of the building as per your specifications at the cost of the bank. The bank will then get the sale price from you on a deferred payment basis.

Show More

Terms Of Financing

  • Down Payment: Minimum 25% of total construction cost
  • Transaction Period: Up to 10 years
  • Payment Mode: Quarterly, Semi-annual or Annual terms are available

  • Source of Payment: Business cash flows, rentals
  • Pricing Rate: Fixed throughout the financing period
  • Security: First class mortgage on the plot and building, post dated cheques covering installments
  • Takaful (Islamic Insurance): Takaful policy covering the property under construction to be assigned to the Bank
  • Qualified Assets: Residential, Office Buildings and Villa Complexes

Show More

Documentation

With our team of skilled professionals, applying for Istisna finance is simple and stress-free, with primary documents varying based on requirement. Note that requirements may be lowered in cases where additional security is provided.

Primary Documents for Individuals:

  1. Valid passport copy
  2. Completed finance application form
  3. Site plan copy
  4. Title deed copy
  5. Feasibility study by project consultant
  6. Construction/Engineering plans

Primary Documents for Companies:

  1. Valid trade license copy
  2. Commercial Registry copy
  3. Partnership agreement copy (in case of partnerships)
  4. Chamber of Commerce and Industry copy
  5. Valid passport copies of partners (in case of partnerships)
  6. Valid passport copy of authorized personnel and copy of Articles of Association defining their powers
  7. Site plan copy
  8. Title deed copy
  9. Project consultant feasibility study
  10. Last 3 years’ financials
  11. Construction/Engineering plans

Show More
05 May 2019

Dubai Islamic Bank named Best Performing Outlet by Dubai Service Excellence Scheme for Third Successive Year

23 April 2019

Dubai Islamic Bank 1st Quarter 2019 Financial Results

21 March 2019

Dubai Islamic Bank offers job opportunities at the Careers UAE Exhibition

11 March 2019

Dubai Islamic Bank recognized with nine distinctive honors at the 2019 Islamic Finance News Awards

07 March 2019

Dubai Islamic Bank hosts Annual General Meeting

05 March 2019

Dubai Islamic Bank and DEWA sign agreement to provide preferential profit rates on DEWA Store for financing electric vehicles

06 February 2019

Dubai Islamic Bank participates in the 21st National Career Exhibition

06 February 2019

Dubai Islamic Bank rings market-opening bell to celebrate listing USD 750 million Sukuk on Nasdaq Dubai

30 January 2019

Dubai Islamic Bank Full Year 2018 Group Financial Results

23 January 2019

Dubai Islamic Bank successfully closes USD 750 million AT1 Perpetual Sukuk

09 December 2018

Dubai Islamic Bank triumphs at Islamic Business and Finance Awards 2018

25 November 2018

DIB Crowned World’s Strongest Islamic Retail Bank 2018

10 October 2018

Dubai Islamic Bank Group 9 Month Financial Results for the period ended September 30, 2018

26 September 2018

DIB's Double Your Salary Promotion Brings Joy To More Than 100 New Customers

30 July 2018

Dubai Islamic Bank celebrates next generation of leaders

22 July 2018

Dubai Islamic Bank & Emirates Skywards soar to new heights launching co-branded credit cards

18 July 2018

Dubai Islamic Bank Group 1st Half 2018 Financial Results

24 June 2018

DIB Champions Customer Happiness With 9th Double Your Salary Draw

18 June 2018

A Fresh New Look to the World’s Oldest Islamic Bank

11 June 2018

Investors Flock to DIB Capital Raising

Thanks, we will get in touch with you shortly.